The Board of Trade Building in downtown Portland located at 310 S.W. Fourth Ave has been purchased by California based Kensington Investment Group, LLC for $18 Million, adding 88,797 square feet of office space to their Portland portfolio. Situated within the Ankeny Blocks in the technology triangle in Portland’s central business district, the building was previously owned by New Urban Properties, LLC.
"We are delighted that the Board of Trade building will now be part of the Kensington portfolio" Said new urban properties CEO, Tom Owens. "Their love for unique buildings and their commitment to Portland matches ours and made a decision to sell to them very easy."
Other recent Kensington Investment purchases include the 205 Commerce Center in Vancouver, Washington on S.E. Mill Plain Boulevard, Slabtown’s Pettygrove building on Pettygrove and N.W. 22nd Street, and the Fiserv building on S.W. Macadam Avenue, all of which were acquired in 2015. The family-run real estate investment company, which has been doing business in Oregon for over 30 years, owns a portfolio of hotels, retail centers, office buildings and mixed use properties throughout the state, and has spent recent years acquiring properties specifically within the Portland MSA.
“Momentum remains strong in Portland, as its unique blend of growing labor forces, affordability, urban amenities, and quality of life outperform other markets,” says Kensington Investment Group principal Rebecca Jensen. “We love the location of the building, and we’re excited to get started on the reposition, as the Board of Trade Building has both the character and infrastructure to support a bright, open, flexible working environment that the modern workforce expects.”
Located at the base of the Morrison Bridge, the 11 story building was completed in 1909 and was designed by David Chambers Lewis, a prominent Portland architect who created many of Portland’s large edifices, office buildings and other structures, including Trinity Church, the Railway Exchange building, Couch and Lewis buildings. The building features bike storage, showers and has access to multiple transportation lines and other nearby amenities including food trucks and the Pine Street market. Surrounding companies include Puppet Labs, Google, Survey Monkey, Airbnb, and others.
Kensington Investment Group intends to execute a multi-million dollar reposition plan that will preserve the historic character of the building while upgrading the common areas and converting older office suites into turn-key open collaborative spaces.
For more information about Kensington Investment Group, visit http://www.kensingtoninvest.com/.